What does a page rank score convey?

Somehow as the web marketplace has evolved, we all end up giving more credit to the page rank that a site has. So much so that page rank has spurred a separate industry in itself prompting mushrooming of companies that promise page rank, or companies that can get your site fake page rank. Personally, I too am able to capitalize on page rank as my sponsors pay me money on my sites depending upon page rank the site has. But is this page rank work loosing sleep? We, the webmasters respect a site depending upon the page rank it has, but does our visitor for whom a site is actually made know anything about page rank? Does he place higher reliance on what you say depending upon what page rank do you have or does a page with higher Page rank always ranks higher in search result?

Concept of the Google founders behind introducing page rank was much honest than the shape we webmasters have given to it today. It is meant to indicate the vote a particular page has from another pages on the net. Now if you have worthy content, sites would always wish to link to you and a site with good content is bound to get higher traffic. Now since Google delivers best search results, any thing associated with it catches fancy. No doubt, page rank is important but let it come naturally to your site as a reward for good content and not by resorting to any artificial means as reciprocal links, link farming or other shady things with which you yourself are not convinced at first place.
With no official word on it as yet, and conclusions based solely on personal experience on the net or those shared by other webmasters, different page ranks stand for following:
PageRank 0-2 – The site does not have many links and needs work. This may not really affect its search engine rankings traffic.
PageRank 3 - is OK but you should work to improve it.
PageRank 4 - Site is quite a normal and you have enough links to make your site competitive.
PageRank 5 - The site has many links or links from authoritative sites, and that Google has good "trust" in the site. It is a respectable and attainable PageRank.
PageRank 6 – Page ranks above 5 are very difficult to attain. PR 6 indicates that the site has many links from respected places.
PageRank 7-10 is usually earned by large and established institutions or websites which have tremendous authority, due to the quantity and quality of the incoming links. It is extremely difficult to attain this ranking. You really have to be special to get it.
Instead of losing sleep over page rank, or engaging fly by night SEOs, do following for your site to get higher page rank:
1. Add content to your website. Make your website so good and so useful that people link to you without you asking for a link.
2. Write articles and get them published on other websites and blogs with a link back to your site.
3. Distribute online press releases
4. Judiciously exchange links, or even better, exchange content (containing links back to your site) with other websites.
5. Get your site listed in online directories.